Construct a flexible budget performance report for Boston Muffins for the year. Be sure to indicate whether each variance is favorable (F) or unfavorable (U).

The "EXAMPLE" image uses different numbers; I included it to show what needs to be filled in.

Boston Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Flexible Flexible Actual Budget Budget Volume 8,900 cases Variance 8,900 cases Variance Master Budget 8,300 cases Divine Muffins EXAMPLE: Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Flexible Flexible Master Actual Budget Budget Volume Budget 8,100 cases Variance 8,100 cases Variance 7,900 cases Sales revenue ($27 per case) S 225,900 s 7,200 F's 218,700 S 5,400 FS 213,300 Variable operating expenses: Packaging expense ($1 per case sold) 8,700 600 U 8,100 200 U 7,900 Shipping expense ($5 per case sold) 42,100 1,600 40,500 1,000 ' 39,500 Sales commissions (3% of sales price) 6,777 216 U 6,561 162 U 6,399 Fixed operating expenses: Salaries 7,000 1,000 6,000 6,000 Office rent 3,600 3,600 3,600 Depreciation 3,200 3,200 3,200 Insurance expense 1,500 700 F 2,200 2,200 Office Supplies expense 1,100 500 OF 500 Total operating expenses 73,977 3,316 70,661 69,299 1 600 U 1,362 U